Business

Four stages to potential approval

1. Receipt and Initial Screening

• Applicant submits a “Pitch Deck”, requirements of which can be found below or at https://www.portofsandiego.org/waterfront-development/blue-economy.
• During this phase, incubator staff will work with the applicant to ensure the application is complete and begin assessing if the project intent fits within the incubator core objectives. A Non-Disclosure Agreement (NDA) will be initiated during this stage, if deemed appropriate. At the end of this phase, the applicant will receive either an invitation to proceed to stage two or a notification that the Port is not interested in pursuing the proposal further.

2. Deep Dive Review

• The applicant will be invited to participate in a meeting (in person or virtually) with the Incubator Committee (consisting of Port leadership and Subject Area Experts) who will carefully analyze the financials, business plan, and logistical elements of the proposal (i.e., possible location, asset needs, potential interactions with other Port activities and programs, etc.) and additional considerations.
• This phase will allow for mutual information gathering and project refinement in preparation for the next step in the process.

3. Executive Review

• Proposals which have been approved by the Incubator Committee will be presented to the Port’s CEO. Applicants will not be required to participate in this meeting.
• The CEO will offer a corporate perspective review, considering the value of partnership, resources needed from the Port, and how the proposal integrates with current port businesses.
• If the CEO deems the proposal to be qualified to proceed, staff will initiate step four.

4. Board Review and Consideration of Approval

• The Port’s Board of Commissioners will receive the proposal for final review and consideration of approval and funding.
  • The proposal will be presented with a staff recommendation.
  • Port Staff, in conjunction with the applicant, will present the proposal to the Board at a
  • regularly scheduled monthly Board meeting.
• If the Board approves the action, there will likely be a few more logistical requirements prior to receiving funding and other incubator services.

Incubator companies that want to renew partnership with the Port will follow the same process as above.

Traditional incubators typically offer subsidized office space, shared administrative services, and start-up mentorship. However, our Port-led Blue Economy incubator is acting as a launching pad for innovative projects and new ideas by removing barriers to entrepreneurs and providing key assets and services focused on pilot project facilitation such as permit-ready infrastructure, entitlements, market access, and strategic funding.

• Pilot project facilitation
• Regulatory and permitting assistance
• Port-based testbed and pilot sites
• Marketing and outreach
• Subject matter expertise
• Funding
• Strategic stakeholder collaboration
• Support to leverage grant opportunities

Aquaculture encompasses the cultivation of shellfish, fish, and plants. The aquaculture sector is driven by a growing global demand for seafood and the lack of a domestic supply, representing a new business opportunity.

Blue tech is the advanced technology sector of the maritime industry, which drives sustainable innovation across emerging markets of the Blue Economy. It includes a broad spectrum of industries and innovative technologies focused on promoting sustainable ocean activities.

In the U.S., we import a majority of the seafood that we consume, of which 50 percent is farmed, according to the National Oceanic and Atmospheric Administration (2012, National Marine Fisheries Service). The vast majority of farmed seafood comes from Asian countries. There is an opportunity for increased domestic supply.